Status Report Summary
Agency Information Information
Lead manager: Due Date:
Manager: Received Date:
Answer the following questions YES NO EXPLANATION
Is the project currently on schedule?
Do you expect the project to complete on schedule?
Are there any major changes or direction that the project is taking?
Are there any risks or issues that the agency is not successfully managing?
Status report 1:
• Structure. How is the corporation that owns your product structured? What are the major strategic business units? How is the SBU relating to your product structured: is it part of a company division, a product line, and individual product, or an individual brand? Is there synergy among the SBUs within the corporation?
• Marketingfunction. Is there a high level marketing officer with adequate authority and responsibility over activities that relate to customer satisfaction? Does there appear to be good communications systems among the marketing officer, other executives, managers, and other company members?
• Processmanagement. Are there control procedures to ensure that the annual plan objectives are being achieved? Is there a statement of ethics clearly articulated and enacted within the marketing function of the company? Is there evidence (found in news articles) of the corporation and/or your product’s SBU engaging in negative behavior and malfeasance?
• Productmanagement. What actions is the company taking to gather, generate, and screen new product ideas? Does the company carry out adequate product and market testing before launching a new product? Is marketing research being conducted within the company that might relate to your product’s target market?
• Profitability. What is the profitability of one or more of the following: the product (and/or SBU, depending on corporate structure), the target markets, and the different channels of distribution? In other words, what product, served markets, and/or distribution channels are most profitable for the company and which ones are the least profitable for the company?
Status Report 2:
• Economic/demographic. What trends are occurring with respect to one or more of the following: inflation, material shortages (such as oil/gas), and unemployment? What is occurring in the economy regarding credit availability? What are the forecasted trends with respect to changes in size and regional distribution of the population?
• Technology. What major changes in technology are occurring in your product’s industry? What are the major generic substitutes that might replace your product?
• Political/legal. What federal, state, and local agencies are relevant to your product (e.g., OSHA)? What is happening in the areas of pollution control, equal employment opportunity, product safety that is relevant to your product?
• Social/cultural. What attitudes is the public taking toward your product category and industry? What changes are occurring in consumer lifestyles and values that have a bearing on your company’s target markets and marketing methods (e.g., downsizing houses)?
• Current competitors. Who are your product’s major competitors? Regarding each competitor, what are the objectives and strategies, strengths and weaknesses, and market share size and market share trend?
• Future competitors. What are the potential future competitors and substitute products for your product?
• Facilitators. What are the changing trends regarding cost and availability of one or more of the following: transportation services, warehousing facilities, financial resources, and advertising agency services?
Status report 3
• Segmentation analysis. What are the major market segments that might be attracted to your product? What is happening in each of the market segments in terms of size (i.e., annual sales in product category) and growth rate (i.e., changes from year to year in product category sales $)?
• Profitability of segments. Which are the high profitability and low profitability market segments (i.e., which segments are spending the most on your product category)?
• Target market(s). What is the key target market of the specific product that you are auditing? What are the current needs and satisfactions being sought by your target market? How do current customers perceive your company in terms of reputation, quality, service, and price? How do current customers position your company relative to competitors? What is the target market’s profile in terms of demographics, geographics, lifestyle, and behavior factors? How do current customers make decisions about buying your product (i.e., complex or simple buying decision process)? What are the evolving (i.e., changing) needs and satisfactions being sought by current customers?
Status report 4
• Objectives. What is (are) the key corporation objective(s)? What are the key SUB objectives? What are the key marketing objectives of your specific product (note: indicate whether the SBU and the product line are equivalent)? Do the corporate objectives lead logically to the SBU objectives and then to the marketing objectives of the specific product? Are your product’s marketing objectives appropriate, given the company’s competitive position, resources, and opportunities?
• Strategy. What is the core marketing strategy of your product for achieving objectives (i.e., market development, product development, or market penetration)? Is it a sound strategy? Are enough resources budgeted to accomplish the objectives? Are the marketing resources allocated optimally to your target market and product? Are the resources allocated optimally to the major elements of the market mix?
• Value proposition. What is the value proposition of your product? Is the value proposition consistent with the corporate image? Is the value proposition consistent with the product’s marketing strategy, SBU strategy, and corporate strategy.
Status Report 5
• Brand. How is the brand communicated to customers (i.e., a name, an image, a sign or symbol or combination of these)? Are there mascots or persons associated with the brand? What brand strategies are being used (e.g., family brand, corporate umbrella, sub-brand name, brand extensions)? What is the product’s brand personality? Is the brand ranked among the most profitable global brands? Does the brand command a price premium? How do current customers perceive the brand image? Is there any evidence of customers feeling a strong brand loyalty to the brand? Has the brand engaged in any legal, ethical, or moral transgressions or does it imply negative connotations?
• Product. What are the different customer value hierarchy product levels of your product: the core benefits, basic product, expected (including warrantees, if applicable), and augmented product? On which level(s) is the product differentiated from competitors’ products? Are the key benefits in line with customers’ needs and wants? What are the objectives of the product line strategy? Is the current product line meeting these objectives? What are the main objectives of the product’s packaging and labeling?
• Price. What are the pricing objectives for your product? What are the pricing strategies used to achieve objectives? To what extent are prices set on costs? Do customer see the company’s prices as being fair with respect to the perceived value of the product? Does the company use price promotions effectively? How do the prices compare to competitors’ prices? Is the pricing strategy consistent with the value proposition?
• Distribution. What are the distribution objectives for your product? What are the strategies for achieving objectives? Are these sound strategies? What types of retail outlets are used to deliver your product to customers? What types, if any of non-store retailing outlets are used?
• IMC. What are the company’s promotions objectives? Are they sound? What are the specific elements in the marketing communications mix that are being used to promote your product? Is each of these elements appropriate for the target audiences (note: evaluate each element separately)? In answering the previous question, discuss (a) whether the promotions themes and copy successfully effective in achieving promotion objective, (b) do customers think about the promotion campaign, and (c) whether there any ethical “red flags” about media, message, and content that should be addressed.
• Promotionsstrategy. Do any promotions activities seem to have excessive costs? Are these costs valid? Can cost-reducing steps be taken?
• Dealers. What are the main channels (e.g., retail store, online store, Amazon, catalogs) bringing products to customers?
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